Remuneration and Other Benefits to Advisors

sunandaC

Sunanda K. Chavan
There are various parameters of providing commission and other benefits to the advisors with the initial commission based on different policies advisor can get Monthly Performance Fees, Benefit of activity factor, Case count bonus, Persistency benefit and annual productivity bonus

The remuneration is paid on the bases on the following hierarchy

NLA Advisor Sr.Advisor Executive Advisor

NLA PBA BA SBA MBA


For NLA with the commission of the policy he gets

Monthly Bonus-5% of the 1st year commission min submission 2 case and Rs.2000 . Premium.

Annual Bonus -5% of 1st year commission min submission of 50000Rs premium


Quarterly persistency bonus- 3% of 2nd year renewal commission in case of activity 80%-85%

5% of the 2nd year Renewal commission in case of 85%-90% activity

6%of the 2nd year Renewal commission in case of above 90%activity

For Advisor the benefits available are-

Same as for NLA

For Sr. Advisor benefits are
Monthly Bonus 5%in case of 2 cases 4000 Rs premium amount
8% in case 2case 6000 Rs premium min
13% of 1st year commission in case of 2 case 9000 Rs premium

Annual bonus 5% of 1st year commission in case 50000Premium
8%of the 1st year commission in case 100000 premiums
For Sr. Advisor 5%of the 2nd year renewal commission if activity 80%-85%
6% of the 2nd year Renewal commission if activity 85%-90%
7%of the 2nd year Renewal commission if activity is above 90%

For Executive Advisor the benefits are

Monthly bonus 5%in case of 2 case 4000 Rs premium amount
8% in case 2case 6000 Rs premium min
13% of 1st year commission in case of 2 case 9000 Rs premium

Annual bonus 5% of 1st year commission in case 50000 Premium
8%of the 1st year commission in case 100000 premium
15%of the 1st year commission in case 120000 premium
For executive advisor the benefits are-
7%of the 2nd year renewal commission if activity 80%-85%
8% of the 2nd year Renewal commission if activity 85%-90%
9%of the 2nd year Renewal commission if activity is above 90%
 
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